Problem 4-3

Information for 2017 follows for Ayayai Corp.:

Retained earnings, January 1, 2017$1,940,000Sales revenue36,900,000Cost of goods sold28,812,000Interest income158,000Selling and administrative expenses4,790,000Unrealized gain on FV-OCI investments277,000Loss on impairment of goodwill (not tax-deductible)538,000Income tax on continuing operations for 2017 (assume this is correct)790,750Assessment for additional income tax for 2015 (normal, recurring)429,000Gain on sale of FV-NI investments (normal, recurring)102,000Lossother (due to flood damage)395,000Loss from disposal of discontinued division (net of tax of $87,133)261,400Loss from operation of discontinued division (net of tax of $57,000)171,000Dividends declared on common shares214,500Dividends declared on preferred shares59,000

Ayayai decided to discontinue its entire wholesale division (a major line of business) and to keep its manufacturing division. On September 15, it sold the wholesale division to Dylane Corp. During 2017, there were 800,000 common shares outstanding all year. Ayayai's tax rate is 25% on operating income and all gains and losses (use this rate where the tax provisions are not given). Ayayai prepares financial statements in accordance with IFRS.

Make a multiple-step statement of comprehensive income showing expenses by function. Include calculation of EPS.(Round EPS answers to 2 decimal places, e.g. 52.75.)